{"id":311281,"date":"2025-03-17T21:24:32","date_gmt":"2025-03-17T21:24:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2025\/03\/17\/2025-budget-we-must-adopt-home-grown-solutions-to-address-fiscal-challenges\/"},"modified":"2025-03-17T21:24:32","modified_gmt":"2025-03-17T21:24:32","slug":"2025-budget-we-must-adopt-home-grown-solutions-to-address-fiscal-challenges","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2025\/03\/17\/2025-budget-we-must-adopt-home-grown-solutions-to-address-fiscal-challenges\/","title":{"rendered":"2025 Budget: We must adopt home-grown solutions to address fiscal challenges"},"content":{"rendered":"

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\"Country Country Managing Partner at Deloitte Ghana, Daniel Owusu<\/span><\/span><\/p>\n<\/div>\n

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The Country Managing Partner at Deloitte Ghana, Daniel Owusu, has revealed that while no new taxes were introduced in the government’s 2025 budget, some existing taxes have been increased and extended.<\/p>\n

According to him, home-grown solutions are necessary to address the country\u2019s fiscal challenges.<\/p>\n

On Tuesday, March 11, 2025, the Minister of Finance, Dr. Cassiel Ato Forson, presented the 2025 Budget and Economic Policy of the government before lawmakers, announcing plans to abolish certain major taxes instituted by the previous administration.<\/p>\n

Speaking to GhanaWeb Business on the sidelines of the 2025 Deloitte Economic Dialogue on March 17, 2025, Daniel Owusu noted that while the government\u2019s approach did not involve introducing new taxes, the expansion and increase of existing ones would have a significant impact on businesses and consumers.<\/p>\n

\u201cOne key point is that no new taxes were added, but you see that some taxes were extended and increased. So, where we are now, we have to find a home-grown solution,\u201d he stated.<\/p>\n

\u201cWe need to be able to generate the funding for the projects we want to embark on. We have been squeezed out of the world market now, so how do we do it? We need to find money from somewhere. The question is, is it business-friendly? We will have business-friendly taxes where the entire system and businesses can respond effectively,\u201d he added.<\/p>\n

The 2025 Deloitte Economic Dialogue brought together industry experts to analyze the implications of Ghana’s 2025 Budget and explore effective strategies for navigating the country’s evolving economic landscape. <\/p>\n

The dialogue focused on key fiscal policies, tax reforms, and economic growth prospects, providing businesses and policymakers with insights to adapt to emerging challenges and opportunities.<\/p>\n

SP\/MA<\/p>\n

Watch the latest edition of BizTech below:<\/b><\/p>\n